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  • Writer's picturePeet Serfontein

Analyst Thoughts: EUR/USD Medium-Term


  • The illustrated view of KL downside to SA1**, followed by gains to R3, remains valid. This should be part of the larger R3/SA1** consolidation phase.

  • A further downside to SA1** and K will complete the bearish correction.

  • Important SA1** support is expected to hold during the downside, followed by meaningful gains back to at least R2.

  • The phase Z upside seems corrective and potentially still part of the larger A,B,C downside.

  • A break above R0* will, however, pivot the market for a larger bullish potential to K and even R1.  

Target and Re-assessment Levels:

Important Levels: 1.0530/1.0780

Primary Trend and Target Levels: Gains off 1.530 to 1.1130

Monthly Range: 1.0860/1.0550

Prevailing Trend and Target Levels: Downside off 1.0780 to 1.0530

Technical Rating: Medium

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